Quick Summary:
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The All-Share Index gained 2.57%, rising to 114,616.75 points, marking its best weekly performance of the year.
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Premium and banking stocks led the growth, with notable gains in Oando, MTN, FIRST HOLDCO, and UBA.
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Key sectors like insurance, oil, and consumer goods posted solid increases, driven by strong performances in LASACO ASSURANCE, CORNERSTONE INSURANCE, and INTERNATIONAL BREWERIES.
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Corporate activities remained active, with Oando’s capital injection, dividend declarations, and financial results shaping market sentiment.
The Nigerian equities market closed the trading week ended June 5, 2025, in positive territory. The All-Share Index (ASI) gained 2,874.74 points, driven mainly by strong performances in premium stocks.
This marks a 2.57% weekly increase, with the index rising from 111,742.01 to 114,616.75—its strongest performance so far this year.
Market Activity and Performance
Although trading volume dropped by 20%, activity remained solid. Investors traded over 3 billion shares during the week, with the total volume closing at 3.02 billion shares.
Market capitalization also grew, increasing to N72.2 trillion from N70.4 trillion the previous week.
- 53 equities appreciated in price, compared to 56 in the previous week.
- 43 equities declined, slightly lower than 44 from the previous week.
- 52 equities remained unchanged.
Key Index Highlights
The NGX Premium Index recorded a 5.91% gain during the week. This was driven by:
- FIRST HOLDCO PLC: up 17.60%
- MTN NIGERIA (MTNN): up 13.96%
- ACCESSCORP, UBA, and ZENITH BANK: all posted gains below 6%
The NGX 30 Index advanced by 2.45%, while the NGX Main Board Index gained 0.93%.
Sector Performance
Banking Sector Leads Growth
The NGX Banking Index rose by 4.69%, supported by:
- FIRST HOLDCO PLC: up 17.60%
- ACCESSCORP, WEMA BANK, UBA, and ZENITH BANK: gains under 6%
Strong Gains in Insurance
The NGX Insurance Index gained 3.36%, driven by:
- LASACO ASSURANCE: up 21.62%
- CORNERSTONE INSURANCE: up 19.51%
Oil, Gas, and Consumer Goods Rally
The NGX Oil and Gas Index climbed 3.33%, led by:
- OANDO PLC: up 25.77%
- ARADEL: up 3.77%
The NGX Consumer Goods Index rose 2.33%, mainly due to a 12.89% gain in INTERNATIONAL BREWERIES.
The NGX Industrial Goods Index edged up by 1.18%.
Top Gainers of the Week
- OANDO PLC: up 25.77%
- LASACO ASSURANCE PLC: up 21.62%
- MULTIVERSE MINING AND EXPLORATION PLC: up 20.39% (N9.15)
- CORNERSTONE INSURANCE PLC: up 19.51% (N3.92)
- FIRST HOLDCO PLC: up 17.60% (N29.40)
- MAY & BAKER NIGERIA PLC: up 16.95% (N13.80)
- FIDSON HEALTHCARE PLC: up 14.18% (N31.80)
- MTN NIGERIA COMMUNICATIONS PLC: up 13.96% (N319.20)
- CHAMPION BREWERIES PLC: up 13.24% (N7.70)
- INTERNATIONAL BREWERIES PLC: up 12.89% (N10.95)
Top Losers of the Week
- ASSOCIATED BUS COMPANY PLC: down 18.64%
- JULIUS BERGER NIGERIA PLC: down 13.50%
- LEGEND INTERNET PLC: down 13.31% (N5.34)
- LIVESTOCK FEEDS PLC: down 12.23% (N8.25)
- E-TRANZACT INTERNATIONAL PLC: down 11.76% (N6.00)
- LEARN AFRICA PLC: down 10.67% (N3.85)
- CONOIL PLC: down 10.00% (N268.30)
- NORTHERN NIGERIA FLOUR MILLS PLC: down 9.97% (N125.05)
- TRANSCORP HOTELS PLC: down 9.97% (N132.80)
- CUTIX PLC: down 9.94% (N3.08)
Corporate Announcements
Several key corporate activities shaped the week:
- Oando PLC released its audited 2024 financial statements.
- Cornerstone Insurance published its Q1 2025 results.
- Oando also secured a $375 million capital injection from Afreximbank and Mercuria.
- Northern Nigeria Flour Mills declared a 25 kobo dividend.
- Greif Nigeria completed tax obligations, progressing its delisting from the NGX.
Market Outlook
The All-Share Index is now firmly above the 114,000 mark and may soon test the 115,000 level in upcoming sessions.
Strong performances in mid- and large-cap stocks continue to drive the market. This momentum is likely to persist unless the index becomes overbought.
